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Molten

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Molten last won the day on February 17

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  1. Haven't updated the big chart in a while given all of the chaos. Amazingly enough, the big broadening wedge that we have been following since August of 2019 actually held up, even with a black swan event like COVID-19. I am very heartened by this, as it seemed almost inevitable a couple weeks back that crypto was dead in the water. I still have my doubts about the long term story, particularly when I see people talking about XRP in the $10's and $100's. This trend is becoming about as rock-solid as you can ask for in macro TA. The cycles seem to be getting longer with each iteration and, as such, I would have to say that the most likely trajectory is to climb our way back up to the $0.35 level, though that probably won't happen until July at the earliest and will likely entail a lot of up and down until that point. Completely random flight path filled in for $hits and giggles. Plenty of volatility to trade
  2. Bumping against a resistance at $0.164 but if we break through that, there is very little resistance up to $0.18 and even $0.21. I jumped back in at $0.154 after trading swings, have a much bigger stack now and ready for a nice run. But, I am placing a stop loss just below $0.16 in case this is another patented crypto head fake. I have a suspicion that the markets have finally finished pricing COVID in and we may be near a bottom. Some US stocks are looking ridiculously cheap right now, some really good companies. Good luck to all and hope everyone is staying healthy and away from this thing.
  3. Ugh, stopped out at $5400. Probably for the best, I have no inkling of which way its going. Seems like BTC is just following the stock markets at this point.
  4. Still in on this trade, SL moved up to $5400 hoping for a quick pop up to $5600+.
  5. Looks like it could be a big recovery day tomorrow for the stock market. Jumped back in to BTC @ $5200 looking for a quick spike and dump. SL set for $4900.
  6. I think the $3400 level is very important to BTC. That was the low back in February 2019 and, if we fall below that, we could easily get sub 2k. Context will matter as the price moves too insofar as the situation with COVID. Even if it falls below 2k or 1k, I think there will be plenty of ups and downs and a lot of opportunities to make money. I'm waiting for the next panic candle to jump back in.
  7. Waiting for the BIG panic drop and then I'm going to full bags again. I don't think this is it yet.
  8. US banks are much better capitalized this time around (at least so they tell us). So hopefully we are quite far from bank runs. I am vacillating between thinking this is way overblown to considering this the end of days. The world could use some good news. If there is a silver lining, it is that somehow China and South Korea seem to be essentially done with this virus for the time being. Perhaps we will start seeing similar inflection points in Italy and the rest of Europe, then US. Hopefully.
  9. Seems a little bit of a pessimistic view. And completely disregarding the possibility of antiviral medications coming to market in the coming months (at least one drug, remdesivir, is due to have initial human trial results announced in late April). Also disregarding the eventual implementation of an effective vaccine. But yes, I agree that much more is yet to come. Hopefully it is seasonal and we get a respite over the summer, during which time vaccine and pharmaceutical work can be done to get ahead of it. And testing capacity will be ramped up such that if/when it starts to come around again, we will all be better prepared. But perhaps I am being too optimistic...
  10. @Baka you are stressing me out man. We need to get you some Xanax my friend.
  11. There isn't much the Fed can do other than this and they didn't want to be perceived as doing nothing. People have been saying this for years, that the Fed was going to be out of ammunition during the next crisis because they already have inflated their balance sheets and rates were so close to zero. Well, here we are. This should be interesting to watch. I hope all of the measures being taken will slow the spread of the virus and life can resume to a relatively new normal, but it seems as though things are getting to get rather worse before they get better.
  12. Sorry, didn't have time to post it beforehand but I jumped into BTC right when the fed announced rate cut to 0% and QE. Got in just under 5400 and cashed out around 5800. 7% in about 20 min work. Still waiting for BTC to crash before establishing a solid long position.
  13. Still waiting for BTC to break down some more but I am also watching for a potential up move if it can clear the 0.382 fib, it might have some room to run up before it dumps back down. Watching closely.
  14. As I pointed out in the other thread, I am looking for one more big down before going all in and hopefully catching a nice big reversal. Currently sitting in USD ready to pounce, will likely split 50:50 between BTC and XRP.
  15. I've officially made the jump from hodler to trader. I know there are many others on this forum who also have an interest in trading or at least have a trading stack that they play with. I figured we could pool our resources and use this thread as a place to highlight ideas, potential setups, etc. Currently, I am mostly in fiat. Made a small trade today longing BTC at 5200 and selling just under 5500. I am working under the assumption that BTC will be heading back down to retest the lows from last night. Watching these converging trend lines as a potential breaking point and hoping to pick up some BTC under 4k if it breaks down.
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